Quantum-Si (NASDAQ:QSI) Trading 6.7% Higher – Should You Buy?

Shares of Quantum-Si incorporated (NASDAQ:QSI) were up 6.7% during mid-day trading on Tuesday . The company traded as high as $2.38 and last traded at $2.06. Approximately 18,007,610 shares were traded during trading, a decline of 73% from the average daily volume of 66,435,195 shares. The stock had previously closed at $1.93.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Canaccord Genuity Group reduced their price objective on Quantum-Si from $1.50 to $1.00 and set a “hold” rating on the stock in a research note on Wednesday, November 13th. HC Wainwright reiterated a “buy” rating and set a $5.50 price objective on shares of Quantum-Si in a research note on Tuesday.

Quantum-Si Stock Up 8.1 %

The company has a 50 day moving average of $1.78 and a 200 day moving average of $1.22. The firm has a market cap of $362.48 million, a price-to-earnings ratio of -3.97 and a beta of 2.74.

Insider Activity at Quantum-Si

In related news, Director Jonathan M. Rothberg sold 3,506,267 shares of the firm’s stock in a transaction on Friday, December 27th. The stock was sold at an average price of $3.34, for a total transaction of $11,710,931.78. Following the transaction, the director now directly owns 1,250,000 shares in the company, valued at $4,175,000. This trade represents a 73.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 30.04% of the stock is owned by corporate insiders.

Institutional Trading of Quantum-Si

A number of institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC boosted its holdings in shares of Quantum-Si by 6.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,316,921 shares of the company’s stock valued at $2,044,000 after buying an additional 145,091 shares during the period. Bank of New York Mellon Corp boosted its stake in Quantum-Si by 3.5% in the second quarter. Bank of New York Mellon Corp now owns 322,460 shares of the company’s stock valued at $339,000 after acquiring an additional 10,811 shares during the period. Barclays PLC grew its holdings in shares of Quantum-Si by 210.5% during the third quarter. Barclays PLC now owns 196,826 shares of the company’s stock valued at $173,000 after purchasing an additional 133,438 shares during the last quarter. Green Alpha Advisors LLC raised its position in shares of Quantum-Si by 35.4% during the 3rd quarter. Green Alpha Advisors LLC now owns 175,055 shares of the company’s stock worth $154,000 after purchasing an additional 45,796 shares during the period. Finally, SG Americas Securities LLC bought a new stake in shares of Quantum-Si in the 3rd quarter worth approximately $53,000. 39.90% of the stock is owned by institutional investors and hedge funds.

Quantum-Si Company Profile

Quantum-Si incorporated, a life sciences company, engages in the development of single-molecule detection platform to enable Next Generation Protein Sequencing (NGPS). The company's platform is comprised of the Platinum NGPS instrument; the Platinum Analysis Software service; and reagent kits and semiconductor chips for use with its instruments.